Kazakhstan: Benzoic Acid Market 2024

Benzoic Acid Market Size in Kazakhstan

The Kazakh benzoic acid market stood at $X in 2021, rising by 5.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -18.4% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Benzoic Acid Exports

Exports from Kazakhstan

In 2021, overseas shipments of benzoic acid, its salts and esters increased by 28% to X tons, rising for the second year in a row after two years of decline. Overall, exports, however, recorded a perceptible downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 173% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, benzoic acid exports soared to $X in 2021. In general, exports, however, showed a noticeable setback. The most prominent rate of growth was recorded in 2015 when exports increased by 152% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Tajikistan (X tons) and Kyrgyzstan (X kg) were the main destinations of benzoic acid exports from Kazakhstan.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Kyrgyzstan (with a CAGR of +16.6%).

In value terms, the largest markets for benzoic acid exported from Kazakhstan were Tajikistan ($X) and Kyrgyzstan ($X).

Kyrgyzstan, with a CAGR of +19.5%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

The average benzoic acid export price stood at $X per ton in 2021, increasing by 83% against the previous year. Overall, export price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Kyrgyzstan ($X per ton), while the average price for exports to Tajikistan totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Kyrgyzstan (+2.5%).

Benzoic Acid Imports

Imports into Kazakhstan

In 2021, the amount of benzoic acid, its salts and esters imported into Kazakhstan rose to X tons, surging by 3.3% compared with 2020 figures. Overall, total imports indicated a perceptible expansion from 2012 to 2021: its volume increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -20.3% against 2019 indices. The growth pace was the most rapid in 2019 with an increase of 110%. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, benzoic acid imports expanded sharply to $X in 2021. Over the period under review, total imports indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -16.2% against 2019 indices. The pace of growth was the most pronounced in 2019 with an increase of 92%. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest benzoic acid supplier to Kazakhstan, accounting for a 70% share of total imports. Moreover, benzoic acid imports from China exceeded the figures recorded by the second-largest supplier, Russia (X tons), threefold. Egypt (X tons) ranked third in terms of total imports with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+7.6% per year) and Egypt (+9.1% per year).

In value terms, the largest benzoic acid suppliers to Kazakhstan were China ($X), Russia ($X) and Egypt ($X), with a combined 98% share of total imports.

Among the main suppliers, Egypt, with a CAGR of +13.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average benzoic acid import price amounted to $X per ton, growing by 4.3% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by 20%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ireland ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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